Mumbai: Debt-ridden Air India has got a 20 per cent discount on insurance premium while renewing its annual policy starting October, a senior official said here today.
Air India, whose new policy will begin from October 1, paid a premium of USD 22.5 million during the latest renewal as against USD 27 million in 2014-15, the official said.
The international aviation insurance market, whose losses had mounted last year, has returned to a softer cycle during the current year, which has helped Air India.
Air India has 141 aircraft valued over USD 9.6 billion and had a few claims in 2014-15.
A consortium of four domestic state-owned general insurers led by New India, which already had Air India's account for 2014-15, has bagged the deal for the next year too, the official said.
It is yet to be decided who among the four state-owned general insurers will get which part of the insurance cover to be provided to Air India for 2015-16.
10/09/15 PTI/New Indian Express
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Air India, whose new policy will begin from October 1, paid a premium of USD 22.5 million during the latest renewal as against USD 27 million in 2014-15, the official said.
The international aviation insurance market, whose losses had mounted last year, has returned to a softer cycle during the current year, which has helped Air India.
Air India has 141 aircraft valued over USD 9.6 billion and had a few claims in 2014-15.
A consortium of four domestic state-owned general insurers led by New India, which already had Air India's account for 2014-15, has bagged the deal for the next year too, the official said.
It is yet to be decided who among the four state-owned general insurers will get which part of the insurance cover to be provided to Air India for 2015-16.
10/09/15 PTI/New Indian Express
